Villanova Investment Management Co LLC Boosts Holdings in Pinnacle Financial Partners, Inc. $PNFP

Villanova Investment Management Co LLC boosted its holdings in shares of Pinnacle Financial Partners, Inc. (NASDAQ:PNFP) by 164.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 19,286 shares of the financial services provider’s stock after buying an additional 11,990 shares during the quarter. Pinnacle Financial Partners accounts for approximately 2.2% of Villanova Investment Management Co LLC’s portfolio, making the stock its 13th biggest holding. Villanova Investment Management Co LLC’s holdings in Pinnacle Financial Partners were worth $2,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PNFP. LPL Financial LLC boosted its stake in shares of Pinnacle Financial Partners by 8.6% during the 1st quarter. LPL Financial LLC now owns 30,679 shares of the financial services provider’s stock worth $3,253,000 after acquiring an additional 2,424 shares during the last quarter. XTX Topco Ltd bought a new position in Pinnacle Financial Partners in the 1st quarter worth $361,000. PNC Financial Services Group Inc. raised its holdings in Pinnacle Financial Partners by 11.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,581 shares of the financial services provider’s stock worth $698,000 after purchasing an additional 683 shares during the period. Townsquare Capital LLC lifted its position in Pinnacle Financial Partners by 15.9% during the first quarter. Townsquare Capital LLC now owns 10,274 shares of the financial services provider’s stock valued at $1,089,000 after purchasing an additional 1,407 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Pinnacle Financial Partners during the first quarter valued at about $234,000. 87.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pinnacle Financial Partners

In other Pinnacle Financial Partners news, Director G Kennedy Thompson purchased 5,000 shares of Pinnacle Financial Partners stock in a transaction that occurred on Monday, October 20th. The shares were bought at an average price of $87.63 per share, for a total transaction of $438,150.00. Following the completion of the transaction, the director owned 33,372 shares of the company’s stock, valued at approximately $2,924,388.36. This trade represents a 17.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Robert A. Mccabe, Jr. sold 6,775 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $93.00, for a total transaction of $630,075.00. Following the sale, the chairman directly owned 202,505 shares in the company, valued at approximately $18,832,965. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. 1.46% of the stock is owned by corporate insiders.

Pinnacle Financial Partners Price Performance

Shares of NASDAQ:PNFP opened at $95.98 on Monday. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 12.20 and a beta of 1.06. The firm has a fifty day moving average price of $89.32 and a 200 day moving average price of $97.62. Pinnacle Financial Partners, Inc. has a fifty-two week low of $81.57 and a fifty-two week high of $127.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

Pinnacle Financial Partners (NASDAQ:PNFP) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.05 by $0.22. The business had revenue of $544.80 million for the quarter, compared to analysts’ expectations of $526.40 million. Pinnacle Financial Partners had a net margin of 19.17% and a return on equity of 9.91%. During the same quarter in the previous year, the company earned $1.86 EPS. As a group, sell-side analysts expect that Pinnacle Financial Partners, Inc. will post 7.85 earnings per share for the current fiscal year.

Pinnacle Financial Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.96 dividend on an annualized basis and a yield of 1.0%. Pinnacle Financial Partners’s payout ratio is presently 12.20%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial decreased their price objective on Pinnacle Financial Partners from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Stephens decreased their target price on shares of Pinnacle Financial Partners from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pinnacle Financial Partners in a report on Tuesday, December 2nd. TD Cowen started coverage on shares of Pinnacle Financial Partners in a research note on Thursday, September 25th. They issued a “buy” rating and a $122.00 price objective for the company. Finally, UBS Group decreased their price objective on shares of Pinnacle Financial Partners from $104.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $109.55.

Pinnacle Financial Partners Company Profile

Pinnacle Financial Partners, Inc, together with its subsidiaries, operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States. The company accepts various deposits, including savings, noninterest-bearing and interest-bearing checking, money market, and certificate of deposit accounts; and provides treasury management services, which includes online wire origination, enhanced ACH origination services, positive pay, zero balance and sweep accounts, automated bill pay services, electronic receivables processing, lockbox processing, and merchant card acceptance services.